Updated almost 3 years ago on . Most recent reply
What next? Mortgage or DSCR? Or something else?
I'm looking at my first investment property and getting a mental block. I have the path to getting the property and rehabbing it. The question is what do I do after a renter is in place or I'm just done rehabbing? I am doing a seller financing with a loan for down payment and rehab. Do I just go to bank and ask for a traditional mortgage? Do I try and get a DSCR loan? Or is there something else I'm not even thinking about? If I get either would I get the equity paid out in cash or is that after a cash out refi only?
I'm just trying to keep my cool because I'm doing this by myself. The rehab alone has me stressing. This is my box......................and I'm way over here outside.